Trucking Insurance

What is Truck Insurance?Truck insurance is the same as car insurance. It covers a whole range of things from the vehicle, third party, cargo and the driver.

Types

Workman's CompWorkers Comp is designed to protect the worker and business after an incident which is why the costs are so much higher. It protects the employee and their family in that in the event of an injury or death, and protects the company from either the employee or their family suing the company.

Owner OccupationalCheaper than workman's comp insurance (by almost 50%), owner occupational is designed to cover medical expenses, lost wages, death benefit and some even offer defense fees (check your policy to make sure). It is far cheaper than workman's comp., but does not protect the business from the lawsuits from injured employees and their families.

Physical DamageDesigned to cover your vehicle while it is loaded and/or dispatched.

Bobtail/ DeadheadDesigned to cover your vehicle when it is separated from the trailer or not dispatched.

Temporary Bobtail/Dead HeadDesigned to cover your vehicle when it is in the process of being registered, bought, transferred between companies.

LiabilityLawsuit insurance. Goes up often because people get more greedy in their lawsuits...

CargoCovers any cargo hauled on the trailer or in your vehicle.

Where do I get Insurance?If you have the incredible amount of funds needed to cover lawsuits, etc., then you can self insure like the bigger carriers do. Otherwise, like every other smaller carrier, you are subject to a third party insurance company of which there are many. As a trucking company, you can typically purchase physical damage, bobtail/deadhead, liability and cargo through the same provider or even through a carrier that you are leased on. I would recommend checking out several different quotes before making a decision. Workman's comp and Owner Occupational Insurance providers are harder to find so you have to do a fair amount of calling around.

What do I need to provide the agent?

Information about your company (Important ID numbers, how your business works, how the vehicles will be used, what it will transport, number of vehicles etc.)